Leaders and laggards among property plays

METRO HOLDINGS ($1) - Limited short-term upside

- Technical indicators look good

- At current $1 level, prices are near four times tested five year high of $1.035

- Breakout at this juncture may prove difficult

GLOBAL LOGISTIC PROPERTIES ($1.97) - Stuck in narrow, sideways range

- Prices have been entrenched within a narrow sideways range

- In general, there is nothing that can support a break above $2

- Support is at $1.955

- Most likely break should be on upside but it may not be in near term

HO BEE LAND ($2.19) - Sideways range

- This is clearly a laggard

- Prices are likely to continue moving within their sideways range of $2.10 to $2.25

- Sputtering quarterly momentum may mitigate worst of downward pressure

WING TAI HOLDINGS ($1.925) - Short-term overbought

- This stock has outperformed the sector

- Quarterly momentum is at 18 month high

- Indicators are overextended, limiting their upside

- Resistance is around $2

- Immediate support is at $1.78 to $1.80

GUOCOLAND ($1.89) - Likely to consolidate

- Prices moved above its 200 day moving average

- For prices to move higher, the breakout level is $1.96

- Watch the $1.89 level.  A break below this level would cause prices to "cover the gap" with bottom at $1.84

CAPITALAND ($3.21) - Limited upside

- Prices have been stuck within a relatively wide trading range

- Resistance is at $3.25 to $3.29 range

- Breakout would set a target of $3.60

- Prices came up from $2.98 establishing this level as support

(Source:  TheEdgeSingapore April 25 2016)

Telcos consolidate as situational plays ease

SINGAPORE TELECOMMUNICATIONS ($3.72) - Could lose strength

- Prices encountered resistance as they moved above $3.84

- Indicators suggest that prices may be under some downward pressure

- Immediate support is at $3.71

- Break below this level is negative suggesting that prices may fall towards $3.40

M1 ($2.61) - Sideways consolidation likely

- Counter appears to be in a better position than the sector

- Support is at $2.59 below which prices may fall to $2.51

- Move below $2.51 would be extremely negative

- Resistance is at $2.62 to $2.63

ASCENDAS HOSPITALITY TRUST (67.5 cents) - A lost cause

- Counter has been building a top since peaking at 81 cents

- Last month prices broke 50 day moving average indicating initial downside of 62 cents

- Resistance appears at 70 cents

STARHUB ($3.29) - Evidence of weakness

- Counter remains relatively weak

- Quarterly momentum is weak and directional indicators are negatively placed

- Prices  are likely to stay under pressure

- Support is at $3.30 and break below would indicate downside of $3.10

- Resistance is at $3.50

GLOBAL LOGISTIC PROPERTIES ($1.95) - Consolidating recent gains

- In short term, counter could lose strength

- Prices may not be able to break $2 in the near term

- Resistance is lowered to $2 from $2.05

GENTING SINGAPORE (84 cents) - Facing resistance

- There are some positive signs from the moving averages

- In short term prices are likely to move sideways  as they approach resistance area

- Support is at 79 cents

- Break above 85 cents resistance would indicate upside of more than $1

(Source:  TheEdgeSingapore April 11 2016)

Banks consolidate as offshore stocks weaken

DBS GROUP HOLDINGS ($15.38) - Could lose relative strength

- Continues to lose relative strength against its sector

- Prices appear poised to "cross" below 100 day moving average

- Sign that the upmove is likely to fade is volume contraction as prices rose

- One saving grace is upturn by the 50 day moving average

UNITED OVERSEAS BANK ($18.87) - Sideways consolidation likely

- Prices may succeed in holding above 100 day moving average

- Quarterly momentum has stabilized

- Immediate moves are likely to be range-bound between $18.61 and $19.23

- Resistance is at $19.23

- Break below $18.61 would cause prices to weaken significantly

KEPPEL CORP ($5.83) - Weakness sets in

- Prices appear poised to fall below 100 day moving average

- Indicators suggest that prices are likely to move within a sideways range rather than fall sharply

- Beak below $5.89 would cause prices to drift towards $5.50

- Recovery should resume after a week or two of sideways consolidation

OVERSEA-CHINESE BANKING CORP ($8.84) - Consolidation to continue

- Prices had moved above 200 day moving average

- Prices may consolidate further

- Break below $8.80 - $8.83 level could cause quarterly momentum to break below its support

- Resistance is at $9.12

- Counter continues to display greater relative strength than the sector

CITY DEVELOPMENTS ($8.17) - Continues to gain relative strength

- Counter continues to gain strength against its sector

- 50 and 100 day moving averages are about to form a positive cross

- Prices are currently testing 200 day moving average.  Break would reinforce bullish outlook leading to upside of $8.50

- Support is at $7.80 to $7.85 range

SEMBCORP INDUSTRIES ($3.02) - Could continue to ease

- Prices are likely to ease in the next week or so

- Indicators suggest a sideways range rather than a precipitous decline

- Volume is expanding as prices decline, hinting at marginal selling pressure

- Prices are unlikely to move below $2.73

(Source:  TheEdgeSingapore April 4 2016)